We use cookies and similar technologies on our websites and mobile applications to help provide you with the best possible online experience. By using our sites and apps, you agree that we may store and access cookies and similar technologies on your device.

Frequently asked questions

Representative 3.4% APR

This rate is available on loans between £7,500 and £19,950. Other loan amounts are available at alternative rates. Our rates depend on your circumstances and loan amount and may differ from the Representative APR.

Before you apply for a personal loan

Yes. Our loan calculator can help you estimate how much you could borrow, your representative interest rates and monthly payments, with no affect on your credit rating. Click here to use our loan calculator.

You can also find out if you're likely to be approved using our Quick Quote tool. It has no impact on your credit rating and will show you how much you may be able to borrow, your personalised interest rate and monthly payments. Click here to use our Quick Quote tool.

You could have the funds the next working day if you use Digital Banking, apply and are unconditionally accepted before 5.55pm Monday - Thursday.

Even if you’re not registered for Digital Banking – you can still apply online. Subject to agreement, we’ll send your documents by post – these typically arrive within 3-5 days. Simply check, sign and return the documents to us. Alternatively, you may receive an email or text message inviting you to provide more information electronically via our DigiDocs portal. The funds could be in your account within two days, provided your application is successful.

If you work as a contractor, are a sole trader, work under a partnership, are a director/owner of a limited company or are a member of a limited liability partnership you are still able to apply for a loan providing you are 18+ and a UK resident with either a Royal Bank of Scotland current account (held for 3+ months), credit card or mortgage (held for 6+ months).

As a responsible lender we will need to ensure that you are able to afford the monthly loan repayments. To do this we will need to see evidence of your income and review the on-going performance of your business.

To do this you will need to provide the below:

Last 2 years finalised accounts

Where the latest accounts are more than 12 months old, then confirmation of performance, in the intervening period should be obtained from an independent source e.g. accountant, auditor

If you own more than one business please provide the accounts for all of these

If accounts are not available, please provide the last 2 years Self-employment SA302 Tax Returns

In some circumstances we may require additional information.

If you are a contractor you will also need to provide:

Evidence of a history of employment over the past year

Evidence that a contract for further work is in place

When you complete your loan application form, the income figure you provide must match that on your Tax Return Form, SA302 or detailed in your finalised accounts. If you haven’t received a paper copy of your SA302 from HMRC it can be printed online.

We're really sorry about that. We understand this might be disappointing, but we can only approve applications that meet all of our criteria.

It might be because you tried to borrow too much or over too short a time. Use our Quick Quote tool to see if entering a different amount or repayment length will make a difference. Don't worry, this won't affect your credit score.

Your individual circumstances change over time. Our assessment takes into account any current information that is available to us. It may, therefore, be inappropriate to offer you additional credit on this occasion.

Yes, although we cannot give any assurances that our original decision will be overturned. You should support your appeal by providing any additional relevant information that was not taken into account at the time of our original decision. Full details of our appeals procedure can be obtained from your local branch.

We will usually process your application within 3 working days. Look out for an email, text or letter from us outlining your next steps.

If we can agree your loan, we'll send you an email, text or letter confirming when we finally approve it. In this case, a confirmation letter, plus copies of the application documents, including a copy of your loan agreement, will be sent to your digital banking mailbox along with a text or e-mail to notify you when the documents have been sent to your mailbox.

You can repay your loan early but you will have to pay an early resettlement fee.

When repaying your existing loan early, you'll pay 58 days interest (28 days if loan term 12 months or less). If the remaining term of the existing loan is less than 58 days (or 28 days) you will pay interest on the remaining number of days to close the loan early.

We can let you know the rate on your existing Royal Bank of Scotland loan by email or text. Follow the link below, fill in your details and we'll be in touch with your loan interest rate within 3 working days.